Angry Bird Creator (Android) Raises $42mm in Seed Capital

Leverage Academy

Mar. 11, 2011, 1:26 AM

The latest phone app craze is the game "Angry Birds," a popular pastime for android users across the globe. It was developed by Finnish company, Rovio, and is played by over $40 million users per month. The game description on the Android app website reads: "Use the unique powers of the Angry Birds to destroy the greedy pigs' fortresses! The survival of the Angry Birds is at stake. Dish out revenge on the greedy pigs who stole their eggs. Use the unique powers of each bird to destroy the pigs' fortresses. Angry Birds features challenging physics-based game-play and hours of replay value. Each of the 225 levels requires logic, skill, and force to solve." Is this Company the next Zynga? Who knows…I questioned Farmville when it came out as well.

Rovio, the tiny Finnish company behiind the iPhone, iPad and Android app Angry Birds, says it has raised $42 million from investors.

The game, consisting of angry birds shot at bewildered-looking pigs, is played by 40 million users every month, the Wall Street Journal said today. its fans, according to Daily Mail, include UK prime minister David Cameron, and Aussie leader Julia Gillard.

The funding round was co-led by venture capital firm Accel Partners, known for working with fast-growing companies such as Facebook. Also involved was the venture capital firm Atomico Ventures, created by Skype co-founder Niklas Zennstrom.

It is part of an "aggressive expansion mode" that Rovio's co-founder and chief executive Mikael Hed said will make the company an "important entertainment media company for the future".

Although he would not say what projects the company was working on, or how big of a share of the company was sold, Mr Hed reportedly told TV-industry website C21media.net that Rovio was looking at plans to make a broadcast cartoon version of Angry Birds.

"We will strengthen the position of Rovio and continue building our franchises in gaming, merchandising and broadcast media. Our next big thing is to execute superbly well on our strategy," Mr Hed said in the article today.

Rovio has all ready been building on Angry Birds' success with franchise products such as soft toys, which have sold more than 2 milion units.